AMEX bue from $24,000 to $500, and business platinum from $24,000 to $1800. (I had a balance of $1600, and now the card may even be maxed out due to charges that were pending). The Starwoods card I got last month was unchanged at $1000, and who knows what effect this will have on my plum card??

So far no change. I have $60K CL across blue and clear. I also have 4 gold charge cards.

They did turn me down for a Starwood card because of my recent AOR with $120+ in BT funds.

I've been with AMEX for around 8 years so I'm still a little surprised they turned me down for the Starwood cc

Blue Simply Cash from 3.5K to 1.4K. Usage 0.5K per month. Paid full every month

No change for me (yet). ~$230K across 2 personal and 3 business AM3Xes.

2Cor521

Just got a notice that mine was reduced from ~30K to ~7K. It was just above the amount that I have on the card. I'm pretty ticked as it takes me from a very low utilization to practically maxed out. Guess they found a way to get me to pay off my "for life" balance transfer quickly.

24.9k Hilton -> 500 this past Thursday. Other cards unaffected (so far).

AMEX knocked down 2 of my 4 lines to 1K and 2.9K (balance owed). They left one personal and one biz (high limits) lines unchanged.

mnsweeps said:still $50,000 on the only AMEX i have...I guess guys with multiple AMEX cards are getting hit hard..
I don't think that the number of cards is the issue. I have three, and nothing has happened so far. (Knock on wood)

On the other hand, I use one of my cards as my daily spender, so there's plenty of transactions. Even though my limits are, in my opinion, ridiculous, that's still money going into AMEX's pocket.

If you have a lot of limit and your cards aren't doing anything, you're not making them any money. In fact, you're locking-up their credit and looking riskier.

At least they're not doing the Citi thing, blanket-closing cards and waiting to see who pops up.

Blue cut today from $25k to $17k leaving me at 98% utilized. Have been paying min+$5 on a 0% free transfer since Dec 07.

I'm going to transfer some $ from there to get me to a lower %, but worry they'll just cut again. I don't want that 98% to show up on the credit reports.

luvdeals said:I paid mine off entirely because I didn't want to risk it. If other banks follow suit, seeing AM.EX almost maxed out might cause another credit card company to cut lines dramatically too. I'm also going to pull some cards out of the sock drawer and use them for something small so they all stay active and are less likely to be cancelled.

That is exactly my experience from the past when Chase closed one of my accounts a few years ago (99.9%BT - fee = angry Chase ), it snowballed into a lot of changes once it hit the credit reports because it raised my overall % util by a large amount. Keeping the % utilization from changing drastically may hopefully help avoid a review by others.

I've also been doing a $5 / month charge on all my non-used cards. It doesn't take barely any time (gas/comcast/etc...) and also may help avoiding closure in my opinion.